Compressor Oil Market

Compressor Oil Market was estimated at USD 11,178 Million in 2020 and predicted to grow at 5.2% CAGR during the forecast period.

Compressor Oil Market Overview

Compressor oils are referred to as mixtures of highly refined paraffinic base oils and high-performance additives that are usually produced in a liquid or semi-solid form. Compressor oils are used to provide lubrication that helps in reducing friction between moving surfaces of the compressor. The thermal stability and oxidation resistance of these fluids help in maintaining compressors cleaner and increase equipment life while reducing maintenance requirements.

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Major Compressor Oil Market Drivers

Rising industrialization together with the growing demand for compressors from industries including oil & gas, manufacturing, and chemical & petrochemical is expected to drive the growth of the compressor oil market size. Additionally, advantages of compressor oils including rust and corrosion protection, rapid release of foam and air release control, and reduced sludge formation in crankcases and coolers help in reducing wear and tear of compressor. This is expected to stimulate the growth of the global compressor oil market size over the forecast period. Moreover, high demand for petroleum-derived products including gasoline, LPG, propane, diesel, waxes, and others is expected to escalate the production of compressor oil owing to the increased consumption of compressor oil in the chemical & petrochemicals sector.

Restraint in the Compressor Oil Market

However, the increasing popularity of oil-free compressors in industries including pharmaceutical, healthcare, food & beverages, textile for eliminating the risk of contamination with the end product is expected to hamper the growth of the compressor oil market.

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Compressor Type – Segment Analysis

Based on the compressor type, the dynamic compressor is expected to hold a prominent share in the market owing to its advantages that include easy designing, low weight, and less maintenance requirement. In addition, dynamic compressors are widely used for refrigeration applications, gas injection, compression in gas power plants, and pipeline compression, which further accelerated the market growth.

Base Oil Type – Segment Analysis

Based on the base oil type, the synthetic base oil is expected to hold a notable market share over the forecast period primarily due to its benefits including higher quality, a longer service life, and staying cooler than standard oil counterparts. Additionally, synthetic oil doesn’t contain sulfur or additives, which helps with preventing build-up on valves, which further promoted market growth.

End-Use Vertical – Segment Analysis

Based on the end-use vertical, oil & gas is expected to grow at a high CAGR over the forecast period. This can be attributed to the increased use of compressors for providing gas pressure to transport gas with pipelines and to lift oil in gas-lift operations. Moreover, according to the International Energy Agency, global oil consumption is projected to reach 104.1 mb/d by 2026 with an increase of 4.4 mb/d from 2019 levels. This is expected to contribute to the growth of the market.

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Regional – Segment Analysis:

Asia Pacific is expected to grow at a significant CAGR during the forecast period owing to the growing economy, rising industries including automotive, oil & gas, power, and aviation, and increasing demand for compressors in the manufacturing sector. In addition, the Make in India initiative by the government of India; Made in China 2025, and Manufacture Innovation 3.0 in South Korea for boosting the manufacturing industry are expected to positively impact the market growth in the Asia-Pacific region over the forecast period. The presence of companies including China Petroleum & Chemical Corporation, Indian Oil Corporation Ltd., and Idemitsu Kosan Co. Ltd. is further supports the market growth.

Top Market Players

Several leading Compressor Oil companies operating in the market, include, Royal Dutch Shell plc, Exxon Mobil Corporation, British Petroleum Plc, Chevron Corporation, Total SE, China Petroleum & Chemical Corporation, Lukoil Group, Indian Oil Corporation Ltd., Fuchs Group, and Idemitsu Kosan Co., Ltd., among others.

Key Developments:

• • In 2021, Total SE announced the acquisition of a 20% minority interest in Adani Green Energy Limited (AGEL) from Adani Group. This is expected to strengthen the geographical reach of the company.

Segments covered in the Report:

The global Compressor Oil market has been segmented on the basis of compressor type, base oil type, end-use vertical, and key regions. Based on compressor type, the market is segmented into positive displacement compressor and dynamic compressor. Based on the base oil type, the market is segmented into synthetic, semi-synthetic, mineral, and bio-based. Based on the end-use vertical, the market is segmented into manufacturing, oil & gas, power, automotive, and others.

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Market Segmentation

Global Compressor Oil Market by Compressor Type

• • Positive Displacement Compressor
  • Dynamic Compressor

Global Compressor Oil Market by Base Oil Type

• • Synthetic
  • Semi-Synthetic
  • Mineral
  • Bio-Based

Global Compressor Oil Market by End-Use Vertical

• • Manufacturing
  • Oil & Gas
  • Power
  • Automotive
  • Others

Global Compressor Oil Market by Region

• • North America Compressor Oil Market (Option 1: As a part of the free 25% customization)

    • North America Compressor Oil Market by Compressor Type
    • North America Compressor Oil Market by Base Oil Type
    • North America Compressor Oil Market by End-Use Vertical
    • US Compressor Oil Market All-Up
    • Canada Compressor Oil Market All-Up

  • Europe Compressor Oil Market (Option 2: As a part of the free 25% customization)

    • Europe Compressor Oil Market by Compressor Type
    • Europe Compressor Oil Market by Base Oil Type
    • Europe Compressor Oil Market by End-Use Vertical
    • UK Compressor Oil Market All-Up
    • Germany Compressor Oil Market All-Up
    • France Compressor Oil Market All-Up
    • Spain Compressor Oil Market All-Up
    • Rest of Europe Compressor Oil Market All-Up

  • Asia-Pacific Compressor Oil Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Compressor Oil Market by Compressor Oil
    • Asia-Pacific Compressor Oil Market by Base Oil Type
    • Asia-Pacific Compressor Oil Market by End-Use Vertical
    • China Compressor Oil Market All-Up
    • India Compressor Oil Market All-Up
    • Japan Compressor Oil Market All-Up
    • Rest of APAC Compressor Oil Market All-Up

  • RoW Compressor Oil Market (Option 4: As a part of the free 25% customization)

    • RoW Compressor Oil Market by Compressor Type
    • RoW Compressor Oil Market by Base Oil Type
    • RoW Compressor Oil Market by End-Use Vertical
    • Brazil Compressor Oil Market All-Up
    • South Africa Compressor Oil Market All-Up
    • Saudi Arabia Compressor Oil Market All-Up
    • UAE Compressor Oil Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Compressor Oil Market All-Up

Major Players Operating in the Compressor Oil Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Royal Dutch Shell plc
  • Exxon Mobil Corporation
  • British Petroleum Plc 
  • Chevron Corporation
  • Total SE
  • China Petroleum & Chemical Corporation
  • Lukoil Group
  • Indian Oil Corporation Ltd. 
  • Fuchs Group
  • Idemitsu Kosan Co., Ltd.